Fast Move Expert

Fast Move Expert At Fast Move Expert we understand that there is sometimes pressure to move fast and to be able to sell your property fast. We cover all legal fees

You will never have to deal with an agent and we have buyers ready to purchase your home. Tony Nnadi Is the CEO of Tick Boxes Limited T/A Fast Completion. As a property owner and landlord I understand all too well some of the challenges involved in trying to sell a property the traditional way, or when sitting on a property that is not yielding any profit

So Fast Completion was established to he

lp landlords and homeowners sell their property fast with as little fuss as necessary. Give us a call or message us to see how we can help you too

What UK Landlords should knowSeveral key updates are affecting UK landlords in 2024: 1. EPC Requirements: Landlords must...
30/07/2024

What UK Landlords should know

Several key updates are affecting UK landlords in 2024:

1. EPC Requirements: Landlords must ensure their properties have an Energy Performance Certificate (EPC) rating of at least 'C' by 2030. This change aims to improve energy efficiency and reduce carbon emissions in line with environmental goals and legal requirements​ (Energy Live News)​​ (Fraser Bond)​.

2. Leasehold and Commonhold Reform: Labour's Leasehold and Commonhold Reform Bill aims to overhaul the leasehold system, including tackling unregulated ground rents and removing the threat of forfeiture for non-compliance with lease agreements. This bill will address existing issues and reinvigorate commonhold, which has been underutilized since its introduction​ (The Independent Landlord)​.

3. Abolition of 'No Fault' Evictions: Labour plans to abolish Section 21 'no fault' evictions through the Renters' Rights Bill, transforming renters' rights and possibly eliminating assured shorthold tenancies. This change will likely be implemented in 2025 and will shift eviction processes to the Section 8 framework, which is more restrictive for landlords​ (The Independent Landlord)​.

4. Stamp Duty Changes: The current reduced stamp duty rates, introduced in the 2022 mini-budget, will end on 31 March 2025. This may lead to a surge in property transactions before the deadline, as buyers aim to benefit from the lower rates​ (The Independent Landlord)​.

5. Capital Gains Tax Adjustments: The annual exempt amount for Capital Gains Tax has been reduced from £6,000 to £3,000, increasing the tax burden on landlords selling properties. However, the top rate of Capital Gains Tax has been slightly reduced from 28% to 24%​ (The Independent Landlord)​.

These updates reflect the government's ongoing efforts to improve housing standards, promote energy efficiency, and reform the private rental sector. For landlords, staying informed and compliant with these changes is crucial to managing their properties effectively.

How can UK homeowners free up equity?UK homeowners have several options to free up equity in their homes, depending on t...
30/07/2024

How can UK homeowners free up equity?

UK homeowners have several options to free up equity in their homes, depending on their financial goals, age, and circumstances. Here are some common methods:

1. Equity Release
Equity release allows homeowners, usually aged 55 and over, to access the equity tied up in their property without having to sell it. There are two main types:

Lifetime Mortgage: You borrow a percentage of your home's value. Interest is added to the loan, and both are usually repaid when you die or move into long-term care.

Home Reversion Plan: You sell a part or all of your home to a reversion company in exchange for a lump sum or regular payments. You can continue living in the property rent-free until you pass away or move into long-term care.

2. Remortgaging
Remortgaging involves taking out a new mortgage on your home, either with your existing lender or a new one, to replace your current mortgage. If your home’s value has increased, you may be able to borrow more than you currently owe, thus releasing some of the equity.

3. Home Equity Loan (Second Mortgage)
A home equity loan is a second mortgage, allowing you to borrow against the equity in your home. You receive a lump sum and repay it over a fixed term with interest. This is different from a remortgage, as it does not replace your existing mortgage.

4. Home Equity Line of Credit (HELOC)
A HELOC is a flexible loan that works like a credit card. You can borrow up to an approved limit, pay it back, and borrow again. Interest is only paid on the amount borrowed, and you can use it for various expenses as needed.

5. Downsizing
Selling your current home and buying a smaller, less expensive property can free up equity. The difference between the sale price of your current home and the cost of your new home provides you with cash to use as you wish.

6. Renting Out Part of Your Home
If you have extra space, you can rent out a room or a part of your home. This can provide you with a regular income stream, effectively using your home to generate equity.

7. Sell and Rent Back
This involves selling your home and then renting it back from the new owner. This is typically seen as a last resort and can have significant risks and downsides, including the potential loss of long-term security.

8. Shared Ownership or Sale of a Share
You can sell a portion of your home while continuing to live there. This might involve selling a share to a family member, a private buyer, or a specialized company.

Considerations:

Fees and Costs: All these options come with varying fees and costs, including interest rates, legal fees, and potential penalties.

Impact on Inheritance: Releasing equity can reduce the value of your estate, affecting what you can leave to your heirs.

Financial Advice: It’s essential to seek independent financial advice to understand the implications and find the best solution for your situation.

Choosing the right method to free up equity will depend on your individual circumstances, financial goals, and long-term plans.

Speak to Fast Move Expert now as we offer bespoke solutions for freeing up cash in your property.

22/04/2024

Data from online property company Zoopla showed the housing market is on track to reach 1.1m transactions across this year

22/04/2024

The asking price of the typical newly-listed property rose by £4,207 in April to £372,324, driven by higher values on four and five-bed homes.

£100 referral pay-out for any home we sell through you 🏠🏡🏝
11/04/2024

£100 referral pay-out for any home we sell through you 🏠🏡🏝

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